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Project Case 9 30 Master Budget
Project Case 9 30 Master Budget
Student Name:
Leiza L Martin
SALES BUDGET:
Budgeted unit sales
Selling price per unit
Total Sales
April
65,000
$10
$ 650,000
May
100,000
$10
$ 1,000,000
June
Quarter
215,000
$10
$ 2,150,000
65,000
700,000
100,000
865,000
Quarter
26,000
320,000
650,000
900,000
100,000
$ 1,996,000
May
100,000
June
50,000
Quarter
215,000
20,000
120,000
40,000
80,000
$320,000
12,000
62,000
20,000
42,000
$168,000
72,000
287,000
86,000
201,000
$804,000
Quarter
$100,000
316,000
320,000
84,000
$ 820,000
May
June
50,000
$10
500,000
$
40,000
455,000
200,000
695,000
EARRINGS UNLIMITED
CASH BUDGET
FOR THE THREE MONTHS ENDING JUNE 30
April
May
June
$ 74,000 $
50,000 $
50,000
Cash balance
436,000
695,000
865,000
Add collections from customers
Total cash available
$ 510,000 $ 745,000 $ 915,000
Less Disbursements
Quarter
74,000
1,996,000
$ 2,070,000
$
Merchandise purchases
Advertising
Rent
Salaries
Commissions
Utilities
Equipment purchases
Dividends paid
Total Disbursements
$ 258,000
200,000
18,000
106,000
26,000
7,000
15,000
$ 630,000
318,000 $
200,000
18,000
106,000
40,000
7,000
16,000
0
705,000 $
$ (120,000) $
40,000
$ 170,000
10,000
$ 170,000
10,000
50,000
50,000
244,000 $ 820,000
200,000
600,000
18,000
54,000
106,000
318,000
20,000
86,000
7,000
21,000
40,000
56,000
0
15,000
635,000 $ 1,970,000
280,000
0 $
(180,000)
(5,300)
(185,300) $
94,700
EARRINGS UNLIMITED
BUDGETED INCOME STATEMENT
FOR THE THREE MONTHS ENDED JUNE 30
$ 2,150,000
Sales
Variable expenses:
Cost of goods sold
Commissions
Contribution Margin
Fixed expenses:
Advertising
Rent
Salaries
Utilities
Insurance
Depreciation
Net operating income
Interest expense
Net income
$
$
860,000
86,000
$
$
$
$
$
$
600,000
54,000
318,000
21,000
9,000
42,000
$ 946,000
$ 1,204,000
$ 1,044,000
$ 160,000
$
(5,300)
$ 154,700
EARRINGS UNLIMITED
BUDGETED BALANCE SHEET
JUNE 30
Assets:
Cash
Accounts receivable (see below)
Inventory
Prepaid insurance
$
$
$
$
94,700
500,000
48,000
12,000
100,000
180,000
(180,000)
(5,300)
(5,300)
94,700
$ 964,000
$ 1,618,700
$
84,000
$
15,000
$ 800,000
$ 719,700
$ 1,618,700
$
$
$
100,000
400,000
500,000
$
$
$
$
$
580,000
154,700
734,700
15,000
719,700
Leiza L Martin
SALES BUDGET:
Budgeted unit sales
Selling price per unit
Total Sales
April
65000
10
=C7*C8
May
100000
10
=D7*D8
May
=(40000*0.1)*10
=(65000*0.7)*10
=(100000*0.2)*10
=SUM(D14:D18)
May
65000
100000
=(100000*0.4)
=SUM(C24:C26)
=(65000*0.4)
=C27-C28
=C29*4
=(50000*0.4)
=SUM(D24:D26)
=(100000*0.4)
=D27-D28
=D29*4
Cash balance
Add collections from customers
Total cash available
EARRINGS UNLIMITED
CASH BUDGET
FOR THE THREE MONTHS ENDING JUNE 30
April
May
74000
50000
436000
695000
=SUM(C46:C47) =SUM(D46:D47)
Less Disbursements
Merchandise purchases
258000
318000
Advertising
Rent
Salaries
Commissions
Utilities
Equipment purchases
Dividends paid
Total Disbursements
Excess (deficiency) of receipts
over disbursements
Financing:
Borrowings
Repayments
Interest
Total financing
Cash balance, ending
200000
18000
106000
26000
7000
200000
18000
106000
40000
7000
16000
15000
0
=SUM(C51:C58) =SUM(D51:D58)
=C48-C59
=D48-D59
=120000+50000 10000
=SUM(C64:C66) =SUM(D64:D66)
=C48-C59+C67
=D48-D59+D67
EARRINGS UNLIMITED
BUDGETED INCOME STATEMENT
FOR THE THREE MONTHS ENDED JUNE 30
Sales
Variable expenses:
Cost of goods sold
Commissions
Contribution Margin
Fixed expenses:
Advertising
Rent
Salaries
Utilities
Insurance
Depreciation
Net operating income
Interest expense
Net income
=215000*4
=(215000*0.04*10)
=200000*3
=18000*3
=106000*3
=7000*3
=3000*3
=14000*3
EARRINGS UNLIMITED
BUDGETED BALANCE SHEET
JUNE 30
Assets:
Cash
Accounts receivable (see below)
Inventory
Prepaid insurance
Property and equipment, net
Total assets
June
Quarter
=SUM(C7:E7)
10
=F7*F8
June
Quarter
=SUM(C14:E14)
=SUM(C15:E15)
=SUM(C16:E16)
=SUM(C17:E17)
=SUM(C18:E18)
=SUM(F14:F18)
50000
10
=E7*E8
=(65000*0.1)*10
=(100000*0.7)*10
=(50000*0.2)*10
=SUM(E14:E18)
50000
June
Quarter
=SUM(C24:E24)
=(30000*0.4)
=SUM(E24:E26)
=(50000*0.4)
=E27-E28
=E29*4
=SUM(C26:E26)
=SUM(C27:E27)
=SUM(C28:E28)
=SUM(C29:E29)
=SUM(C30:E30)
June
Quarter
=SUM(C35:E35)
=SUM(C36:E36)
=SUM(C37:E37)
=SUM(C38:E38)
=SUM(C39:E39)
June
50000
865000
=SUM(E46:E47)
Quarter
74000
=SUM(C47:E47)
=SUM(F46:F47)
244000
=SUM(C51:E51)
=320000*0.5
=168000*0.5
=SUM(E35:E38)
200000
18000
106000
20000
7000
40000
0
=SUM(E51:E58)
=SUM(C52:E52)
=SUM(C53:E53)
=SUM(C54:E54)
=SUM(C55:E55)
=SUM(C56:E56)
=SUM(C57:E57)
=SUM(C58:E58)
=SUM(F51:F58)
=E48-E59
=F48-F59
0
-180000
=-((170000*0.01*3)+(10000*0.01*2))
=SUM(E64:E66)
=SUM(C64:E64)
-180000
-5300
=SUM(F64:F66)
=E48-E59+E67
=F48-F59+F67
2150000
=D78+D79
=E76-E79
=SUM(D82:D87)
=E80-E87
-5300
=SUM(E88:E89)
94700
500000
=12000*4
=21000-9000
= 950000+56000-42000
=SUM(E99:E103)
=168000*0.5
15000
800000
719700
=SUM(E109:E112)
=1000000*0.1
=500000*0.8
=SUM(E117:E118)
580000
154700
=SUM(E123:E124)
15000
=E125-E126